BSMAvsVTESETF Comparison
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Invesco BulletShares 2036 Municipal Bond ETF (BSMA) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMA is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.05% for VTES. Run a side-by-side ETF comparison of BSMA and VTES below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BSMA vs VTES performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMA VTES | +5.05%+2.29% | n/a+0.58% | n/a+1.03% | n/a+1.64% | n/a+11.06% | n/an/a |
| Flows | BSMA VTES | +$12M+$734M | -+$1.96B | -+$2.58B | -+$2.75B | -+$3.92B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMA VTES | n/a+2.70% | n/a+1.67% | n/a+1.61% | n/an/a |
| Max drawdown | BSMA VTES | n/a-2.66% | n/a-2.95% | n/a-2.95% | n/an/a |
| Max drawdown duration | BSMA VTES | n/a77d | n/a246d | n/a246d | n/an/a |
Trading data
BSMA | VTES | |
Last sale 11/2/2026 at 2:30 PM | $25.61 | $100.40 |
| Previous close 10/30/2026 | $25.51 | $100.59 |
| Consolidated volume 10/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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BSMA | VTES | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/2/2026 at 2:30 PM
Live
Closed
BSMA | VTES | |
|---|---|---|
| Last price | $25.61 | $100.40 |
| 1D performance | +0.39% | -0.19% |
| AuM | $17.85 M | $4.19 B |
| E/R | 0.18% | 0.05% |
Characteristics
BSMA | VTES | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Vanguard |
| Benchmark | ICE BulletShares Municipal Bond 2036 Index | S&P 0-7 Year National AMT-Free Municipal Bond Index |
| N° of holdings | 101 | 1803 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 16, 2026 | March 9, 2023 |
| ESG | No | No |
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Exposure
Countries
BSMA
USA
52.32%
Other
47.68%
VTES
USA
47.58%
Other
52.42%
Sectors
BSMA
Municipal
52.32%
Other
47.68%
VTES
Municipal
47.58%
Other
52.42%
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Diversification
BSMA
Total weight of top 15 holdings out of 15
17.47%
VTES
Total weight of top 15 holdings out of 15
4.38%
Top 15 holdings
Data as of September 30, 2026
BSMA
City of New York, 4% 1nov2021, USD (2005)
1.45%
Mountain View Capital Improvements Financing Authority, 5% 1may2056, USD (2026)
1.37%
New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B)
1.26%
US650010DS70
1.25%
US79467BJS51
1.25%
US73358WJX39
1.25%
US64972JC224
1.15%
University of California, 5% 15may2036, USD (2025)
1.13%
US61371DBT00
1.08%
State of Washington, 5% 1feb2043, USD (2026C)
1.06%
Arizona Transportation Board, 5% 1jul2045, USD (2026)
1.06%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
1.05%
City of Manchester (NH), 5.25% 1jul2056, USD (2026)
1.04%
US70914PF491
1.04%
New York Thruway Authority, 5% 15sep2045, USD (2026A)
1.04%
VTES
US13063EUN48
0.60%
US13063EUM64
0.58%
US13063EUP95
0.45%
US13063EUU80
0.27%
US986525F737
0.27%
North Colonie Central School District, 3.75% 25jun2027, USD (2026)
0.27%
US13063EUQ78
0.25%
Illinois, 5% 1nov2028, USD (2017D)
0.25%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.23%
New Jersey, 4% 1jun2030, USD
0.23%
Illinois, 5% 1nov2027, USD (2017D)
0.21%
New Jersey, 5% 1jun2028, USD
0.20%
US91412HWB58
0.20%
New Jersey, 4% 1jun2031, USD
0.20%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.18%
Frequently asked questions about BSMA and VTES
Which ETF is bigger: BSMA or VTES?
As of October 30, 2026, BSMA holds $17.85 M in assets under management (AUM), while VTES manages $4.19 B.
What sectors do the BSMA and VTES ETFs invest in?
BSMA leans toward sectors like Municipal. Meanwhile, VTES focuses on Municipal.
What are the top holdings of the BSMA ETF and VTES ETF?
BSMA top holdings include City of New York, 4% 1nov2021, USD (2005), Mountain View Capital Improvements Financing Authority, 5% 1may2056, USD (2026) and New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B). VTES holds in its top three: US13063EUN48, US13063EUM64 and US13063EUP95.
Which ETF is more diversified: BSMA or VTES?
BSMA holds 189 securities with 17.47% of its assets in the top 15. VTES has 3911 securities and a top 15 weight of 4.38%.
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